The Dividend Cafe Monday - May 13, 2024
The Dividend Cafe
The Dividend Cafe - The Bahnsen Group
4.9 • 572 Ratings
🗓️ 13 May 2024
⏱️ 15 minutes
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Summary
Today's Post - https://bahnsen.co/3UXaYJe
Markets opened to the upside and then spent the first half of the day declining (but not by much) and the second half of the day around that declined spot.
Links mentioned in this episode: DividendCafe.com TheBahnsenGroup.com
Transcript
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| 0:00.0 | Welcome to the Dividend Cafe, weekly market commentary focused on dividends in your portfolio and dividends in your understanding of economic life. |
| 0:13.2 | Well, hello and welcome to the Monday edition of the Dividend Cafe. |
| 0:17.1 | We have a full agenda for you today going around the horn to talk about all of our |
| 0:24.0 | favorite topics. The Dow's eight-day winning streak has finally come to an end. The Dow is down |
| 0:32.6 | whopping 81 points today, just 20 basis points. The S&P was barely down, just down a couple |
| 0:40.2 | basis points. And the NASDAQ was actually up on the day, 29 basis points. It was a pretty |
| 0:46.9 | boring day, actually, overall. The best performing sector was technology. It was up less than |
| 0:53.2 | half a percentage point. The worst performing sector was industri. It was up less than half a percentage point. The worst |
| 0:55.7 | performing sector was industrials and it was down less than half a percentage point. And so there |
| 1:03.0 | was plenty in between kind of a flat range. The market spent the first half of the day slowly |
| 1:09.6 | dropping, like I said, down about 100 points. And then it spent the second half of the day slowly dropping, like I said, down about 100 points. |
| 1:12.7 | And then it spent the second half of the day just being down 100 points, not really moving a lot from there. |
| 1:19.1 | But again, this comes off of an eight-day winning streak. |
| 1:23.3 | And it was one of the subjects I covered in the Friday Dividend Cafe, if you missed that, |
| 1:28.5 | in terms of understanding what has happened in the market over the last couple of weeks. |
| 1:33.7 | I think it's worth noting. |
| 1:36.1 | A few other quick market comments. |
| 1:38.4 | I was unaware of this till reading a report this morning that 70% of the companies in the S&P 500 are above their own 200-day |
| 1:51.5 | moving average right now. But it has been there. That is not varied at all since November, |
| 1:59.7 | late November of last year. The 200 day moving average, over 70% |
| 2:06.1 | of companies, and it had gotten above 80% at one point. It came back down to 70% in April, |
| 2:13.0 | but it's not gone lower than that. That's very interesting to me, the resilience of the breadth in the market in terms of that relative strength. |
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